Political commentary from the LA Times

(UPDATE: No official announcement but Friday afternoon word is Clinton has accepted the Cabinet offer.)

Obama transition team sources say that substantive talks are ongoing between President-elect Barack Obama and New York Sen. Hillary Clinton about her joining his cabinet in a new White House administration starting Jan. 20.

Since their secret meeting in Chicago one week ago today to discuss a possible appointment as secretary of state, the two former Democratic presidential rivals have reportedly conversed several times on foreign policy issues.

Other aides worked on details of necessary financial disclosures of foreign donations to ex-President Clinton's library and foundation.

But the sources say that, while plans could still change, at the moment the process is continuing with an announcement about a Clinton cabinet appointment not expected before Thanksgiving.

Clinton would be the third female secretary of state after Madeline Albright and Condoleeza Rice. See additional news video below.